New EMV deadline delay or not, momentum toward outdoor compliance Industry can no longer be ignored, according to industry analyst Tim Tang.
“’I will wait and see what happens’ is no longer the norm,” he says.
Here are Tang’s four factors for the shift:
1) Escalating urgency to meet the deadline - While most of the equipment appears to be readily available, the technicians to install the equipment are increasingly overwhelmed. Depending on the market, what was once a 4 to 8-week delay has—in some cases—grown to over 12 weeks or more.
2) Proactive protective actions from the card payment ecosystem - While some c-store operators may be comfortable taking a “wait and see” approach, the rest of the card payment ecosystem is not. Entities such as fuel marketers, payment processors, and others also have a financial interest in these shifting chargeback liabilities and the potential impact on their own businesses. They are developing new contractual terms, even fees, to protect themselves.
3) Evolving public perception - In an era where data breaches have become commonplace, Consumers want safer credit card transactions. Major oil brands are not only moving to complete the upgrade; they are running TV commercials to highlight how their compliance with the Outdoor EMV upgrade is evidence of their concern for their customer’s safety.
4) Numerous very public data breaches in the C-store industry continue to highlight the industry’s need to improve the convenience store’s security posture.
Read Tim Tang’s full article here.
The new outdoor EMV deadline will be April 17, 2021. If you haven’t begun your outdoor EMV upgrade, we strongly suggest contacting your local Gilbarco distributor as soon as possible.
You can find more information with our Quick EMV Migration Guide.